Unit holders of Menu Foods Income Fund have overwhelmingly approved a $239-million takeover offer from Arkansas-based compositor, Simmons Pet Food Inc..
Mississauga, Ontario, Canada-based Menu Foods says 99.94% of the outstanding 23,009,656 units and special trust units voted at a special meeting last week Friday to back the deal.
Closing is expected in early November, pending regulatory approvals.
Menu, a private-label and contract manufacturer of wet pet food products that was embroiled in a massive pet food recall three years ago, put itself up for sale after a strategic review earlier this year.
The acquisition writes an end to a difficult chapter in Menu's recent history as the company has focused on recovering from a tainted food scandal in 2007.
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